George Bernard Shaw used to say that political necessities sometime turn out to be political mistakes. As things stand in ongoing negotiations between the West and Iran, this seems to be the parallel for what is going to happen in yet another round of talks later this month in Russia. Let us consider the current balance of actions.
If it is true that wars begin in the minds of men then Iran and Western powers have been at a state of war for some time. Martial rhetoric has been accompanied by steady military build-up and unprecedented diplomatic shut-down as each side throws away their steering wheel in this most dangerous of games of chicken.
Iran is the second largest oil producer in the Middle East and holds 10% of world reserves. Some oil analysts believe that supplies of oil are already tight due to South East Asian demand and strong demand in Europe and USA. Kuwait and Saudi Arabia are producing to maximum capacity and they cannot do a lot in the short term.